Find out more about Papaya Global Pension Letters ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a secure and dependable method of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive advantages packages to global employees no matter the variety of workers in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source regional benefits suppliers in every nation, produce regional accounts and have a minimum number of workers.
The HR capabilities supplied by International HR encompass numerous functions such as monitoring vacation time, guaranteeing compliance, facilitating the process of inviting new employees and bidding farewell to departing ones, providing a safe online platform for keeping workers' files, and providing assistance for work permit procedures in case your workers require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall work expenses dispersed per place, overall work costs per cycle and a lot more.
Internationally, I have actually demonstrated leadership and tactical expertise in guiding massive populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for supervising payroll strategies, as pointed out by Mark. My function involves managing and establishing external partnerships, supporting Business customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We focus on providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's an enjoyment to fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The intricacies and difficulties of this field have constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've type of had a range of various functions on the service provider side and likewise on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really extremely gloomy and I want I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why companies preserve separate
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different checking account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll bank account how business properly anticipate their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in adequate in one nation however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of factors most notably guidelines compliance data security and banking guidelines then there are the large numbers they add more complexity the global Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the globe in the conventional payroll model there's frequently an overwhelming variety of various systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in large quantities and or very very basic there's no real consistency structure we're living in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind every time I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more a service spends on worldwide payroll the less of a picture they see a lack of presence also encompasses payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of global services have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes inadequately communicated hires and terminations along with absence management and system configurations and then when you round everything off and the information is shipped to the incorrect location the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they rely on the required several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges service face when they're paying to employees or otherwise that's an excellent question I always toss this back and say what is it what doesn't require to be consisted of ideal and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and technology is permitting us to sort of progress with that it also as well to contribute to that payroll and financing require to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely essential that payroll and financing teams work closer together than ever um I'm always amazed when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to add to type of the level of intricacy there's increasingly more advantages being organ or being provided by companies across the world so again you're just wanting to add a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real obstacles or genuine difficult kind of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would absolutely state that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding info into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we require to produce extra handoffs while doing sos that we run in they simply make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and a period that you understand that we are working in today there is no reason we are still making this as tough as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any company has from an expense viewpoint from an impact point of view on staff members it is absolutely critical that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the biggest destructive impact on individuals's well-being and numerous other aspects if people aren't paid uh I have actually constantly been surprised coming into this Market sort of the last 5 to 10 years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just notice when things fail. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's perceived externally as well. For that reason, it is important to make sure that tasks like Wi-Fi International and other crucial matters are done correctly. Using the first Global Payments very first payroll payment option is a fantastic initial action towards supplying a comprehensive payroll option for staff members worldwide. Standardization, global processes, and decreasing the number of tools, platforms, and checking account needed for global payroll are crucial factors in accomplishing organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyhow we know how how important a role it is which's why we do it that's why we get on with it and this is why we're talking today about making it as easy as possible for everybody that's involved in those procedures and likewise so imagine sorry I'm just I was just gon na state picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions think of getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task attempting to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and type of try to get back to everyone so carrying on appearance why do companies choose to main different savings account there are organizations out there doing exactly this for specific nations and I've worked in a service or lots of businesses doing exactly that I can state it doesn't always feel effective and it does create more work I understand we're not purposely doing that we're not producing additional work for anyone where we do not have to and any person that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think numerous reasons one is it's the requirement I think people have actually got so utilized to we require a brand-new savings account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm the people have actually adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that needs looking at it requires altering however eventually individuals are extremely stuck to what they're familiar
with right um modification is a difficult thing all of us do not like modification um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having preserving several savings account but there's a substantial amount of intricacy chooses establishing a bank account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for individual individuals so the complexity is substantial however I believe the truthful answer is modification um individuals haven't had the ability to alter or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could practically be determined to be the next Century or two there is a lot to keep track of and this method does posture several challenges um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you are worthy of a corner office with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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